Category: Corporate News

Namibia Approves Tower Resources Farm-Out of Offshore PEL96 License to Prime Global Energies Tower Resources has received formal approval from Namibia’s Ministry of Industries, Mines and Energy (MIME) for the farm-out of its offshore PEL96 exploration license to Prime Global Energies Limited. The approval removes the final outstanding condition under the farm-out agreement announced in January, clearing the way for the transaction to proceed to completion. Tower Resources will now issue a completion notice to

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Shell Forecasts Global LNG Demand to Surge 65% by 2050 as Asia Drives Energy Growth Global demand for liquefied natural gas (LNG) is projected to increase by approximately 65% by 2050, with Asia expected to remain the primary driver of growth as countries transition from coal to cleaner energy sources and rising electricity consumption fuels demand. According to Shell’s 2026 LNG Outlook, global LNG demand is expected to approach 700 million tonnes annually by 2050,

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TotalEnergies to Sell 120 Ethiopian Fuel Stations to OLA Energy as Downstream Sector Reshapes TotalEnergies is preparing to exit Ethiopia’s fuel retail market through the planned sale of its network of approximately 120 service stations to OLA Energy, a pan-African downstream operator formerly known as OiLibya. The agreement, which has not yet been publicly confirmed by either company, would transfer one of Ethiopia’s most established international fuel retail networks to OLA Energy. The financial terms

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Dangote Refinery Imports 1.46 Billion Litres of Gasoline Blendstock While Maintaining Over 100% Capacity Utilisation Nigeria’s 650,000-barrel-per-day Dangote Refinery imported an estimated 1.46 billion litres of intermediates and gasoline blendstock over a five-month period from January to May 2026, according to industry data derived from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) statistics. The imported products are not sold directly to consumers. Instead, they are used as secondary feedstock, blended with other refinery

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Eco Atlantic Sells 37.5% Interest in South Africa’s Block 1 CBK to Navitas Petroleum Eco Atlantic Oil & Gas has signed a definitive farm-down agreement with Navitas Petroleum, transferring a 37.5% working interest in Block 1 CBK offshore South Africa as the companies deepen their strategic partnership in offshore exploration. The transaction represents a key milestone under the strategic framework agreement between the two companies, which granted Navitas an option to acquire an interest in

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